$950 MU, did you get cut?

First, the surface: semiconductor sector bleeding, retail panic shouting "top."

The Philadelphia Semiconductor Index fell over 7% intraday, MU closed down 4.71% at $938.38, its lowest close since June 10. The candlestick tells you: from the all-time high of $1,255 on June 25, it's dropped over 25% — but don't forget, this stock is still up 230% year-to-date, and over 650% in the past 12 months.

Thing one: earnings were absurdly strong, but the stock fell.

Q3 revenue of $41.5 billion, up 346% YoY, up 74% sequentially. Non-GAAP EPS of $25.11, 17% above market expectations. Gross margin 84.9% — what does that mean? Even Nvidia would be silent.

Q4 guidance is even stronger: revenue $50 billion, gross margin 86%, EPS around $31. Management explicitly said: HBM capacity for 2026 is fully sold out.

The most profitable quarter in history, the strongest guidance in history — and the stock fell 25%.

Thing two: what is the market afraid of? Three words — "too much gain."

Samsung Q2 operating profit surged 19x, yet the stock also plunged. SK Hynix followed. Not because of poor results — the market feels "the good times are over."

An analyst at Saxo Bank put it bluntly: funds are rotating out of tech stocks. Trivariate Research just today raised its target to $1,500-$1,600 — which instead triggered pre-market selling pressure. Good news is already priced in.

Thing three: a notable technical signal appeared.

From $1,255 to $891, a drop of exactly $364. RSI has entered oversold territory — historically, every time MU entered oversold, a rebound followed.

Key support at 900-920 has been touched. If it doesn't hold, next target is $850. Resistance at 1,000-1,014; above that, look at 1,050-1,100.

Bulls vs. bears — you decide.

On one side:

Revenue quadrupled YoY, gross margin 84.9% surpassing Nvidia

HBM capacity fully sold out through 2026, supply tight until 2028

16 strategic customer agreements locking in $100 billion in revenue

Wall Street average target $1,576, still 70% upside

Long-term supply agreement signed with General Motors

On the other side:

Already up 230% this year, profit-taking concentrated outflow

Samsung's beat still led to a drop — market sentiment has shifted

Philadelphia Semiconductor Index down 7% in a day, sector-wide stampede

Class action lawsuit accusing Micron of restricting supply to inflate prices

Key levels

Resistance above: 1,000 → 1,050 → 1,100+

Support below: 900-920 (strong) → 850 (iron floor)

Short-term traders:

Wait for a pullback to the 900-920 zone, enter light for a rebound, stop loss 880, first target 1,000-1,014, exit half position.

Swing traders:

Wait for daily close above 1,000 before adding, target 1,050-1,100. This is not a time to panic — it's a time to keep your eyes open.

Long-term believers:

Start building positions in batches below 900, 3-4 batches. The AI supercycle is only at halftime. Global AI infrastructure capex is expected to reach $1.5 trillion by 2027. Hold for 1-2 years, target 1,500+.

You curse MU now — three months later, you might regret it.

A company with revenue quadrupled and 85% gross margin drops 25% — this isn't a bubble burst, it's a discount sale.

You dared not sell at 1,255, and you dare not buy at 938 — so when in your life will you ever act?

MU at 938 and MU at 1,255 are the same company. What changed is not the fundamentals #GUSD年化升至3.8% — it's your emotions.